Bitcoin Scales Or It Dies

The current throughput of BTC is 7 transactions per second. That’s 420 tx a minute. ~600,000 a day. For a global network? How do 7 Billion people use a payment network that can only process 600,000 transactions a day? Ethereum is doing nearly double that number of daily transactions but is also having a lot of problems with scaling and …

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Market Signal: Point Break

BTCUSD is breaking below the daily Ichimoku cloud (standard settings). BTCUSD – click for big This indicates a bearish trend confirmation from the bearish TK cross on June 14. BTCUSD has crossed the cloud barrier six times in the past 12 months. Four of those six signals led to significant moves. This move sets BTC up for hitting targets $8800, …

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Count Your Blessings

Jay Powell has been a generous God. Count your blessings under his reign. Powell’s policies of spending your future tax dollars to protect the banking system have created a historic windfall for those closest to the Fed machinery. I highly recommend that you read up on the Cantillon Effect. It’s been a hot topic lately for good reason. Brief update …

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Sell in 2020 and Go Away

Very few things make sense in 2020. With Seattle’s CHOP zone, the now iconic St Louis gun toting couple and the destruction of statues coast to coast it seems Fight Club’s Project Mayhem has become the norm rather than the exception. Seattle CHOP St Louis Ripping down statues in USA I am reminded of this final scene in Fight Club …

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SPYing A Trend

The SP500, aka the SPY, has been on a tear since the low of $2,200 on March 23rd. To the disbelief of many, the market has been on a V shaped recovery so far. As I am a primarily a trend trader and use the Ichimoku Cloud as my primary technical trend indicator I noticed today that the SPY had …

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Tesla Bulls Euphoric

Tesla stock is resembling SpaceX as it rockets into space day after day. Up 10% on Friday followed by 13% today. But I have some sobering news. The return to Earth is near. Betting against Tesla has been a bad idea for years, but I have reasons to write this now. There are predictable cycles in markets. Tesla exuberance has …

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Market Signals

Brief but important update. My most reliable tool for buy/sell signals on BSV is approaching a BUY signal. The Mayer Multiple tracks the daily closing price vs the 200 daily moving average. Historically when the MM indicator is below .7 BSV has been at a market bottom. I’ve written about the Mayer Multiple in these previous posts: Mayer MultipleMarket UpdateBitcoin …

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The Trend is your Friend

Jesse Livermore, the legendary early 20th century stock trader, is the single greatest influence on my trading mindset. If you have not read “Reminiscences of a Stock Operator” and/or “The Boy Plunger” I recommend you buy and read them immediately. These books about Jesse Livermore’s life are entertaining and highly educational for everyone, trader or not. One of the best …

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Bitcoin is an IQ Test

There is a lot to unpack in this post. Let’s begin with addressing a few world events and a brief discussion of money. There are volumes of books about monetary theory. For this conversation I am going to sum money up as “the product of any one person’s work”. You may store that work product (accumulate money) or use that …

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BTC transaction fees hit $1,000

On May 14th several BTC users paid transactions fees over $1,000. Let’s dig in on how this is happening. Here’s a random screenshot taken at 1215PM EST on 05/15/2020 from this website: https://blockchair.com/bitcoin/transactions click for big Notice the columns in red. Inputs and fees are correlated. BTC users are paying ~$2 per input used in a BTC transactoin. BTC is …

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